Yes Bank Net Profit Jumps Four-Folds To Rs 207 Crore In June Quarter

Yes Bank Q1 Earnings: The total income reduced to Rs 5,581.84 crore in June quarter

Yes Bank announced its April-June quarter results for the financial year 2021-22 on Friday, July 23, reporting a jump of 355 per cent – almost four-folds in its net profit to Rs 207 crore on a standalone basis, compared to Rs 45 crore in the year-ago period. The net profit of Rs 207 crore registered in the first quarter of the current fiscal is the highest quarterly profit for the bank since December 2018, according to a regulatory filing by the bank to the stock exchanges. 

The total income of the private-sector lender decreased to Rs 5,581.84 crore in the June quarter, compared to Rs 6,106.74 crore in the corresponding quarter of the previous fiscal.

On the asset quality front, Yes Bank pared its bad loans proportion with the gross non-performing assets (GNPAs) declining to 15.60 percent of the gross advances by the end of June 2021, from 17.30 percent in the year-ago period. The bank’s net NPAs – bad loans, moved up to 5.78 per cent from 4.96 per cent in the year-ago period.

Yes Bank’s net interest income (NII) – the difference between interest earned and interest expended, stood at Rs 1,402 crore during the April-June quarter, compared to Rs 1,908 crore in the year-ago period.

The bank’s corporate recoveries during the quarter stood at Rs 1,643 crore – outpacing the slippages of Rs 1,258 crore. Its business generation continued with retail disbursements of Rs 5,006 crore, SME disbursements of Rs 3,242 crore, and wholesale banking disbursements of Rs 3,625 crore, according to details of the bank’s exchange filing.

On Friday, July 23, shares of Yes Bank settled 0.38 per cent higher at Rs 13.07 apiece on the BSE.


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